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Stories Tagged as

Purchasing power

Election 2024

Affordability was top of mind for young voters this election

by Caleigh Wells
Nov 8, 2024
Gen Z's lived experience through the pandemic and a period of high inflation meant that the economy was a top issue.
This election, economic concerns were on the minds of Gen Z voters, who have 86% less purchasing power than baby boomers did at their age.
Jeff Kowalsky/AFP via Getty Images
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When assessing inflation, it's not just the data, it's also the narrative

by Kimberly Adams
May 17, 2024
The CBO data show purchasing power rising across all income groups, but the numbers reflect averages, and individuals' experiences vary.
According to the Congressional Budget Office, purchasing power went up across all income groups because incomes grew faster than prices between 2019 and 2023.
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Wage hikes lighten the burden of inflation, but it still weighs on some workers

by Mitchell Hartman
Dec 18, 2023
Average pay raises last year slightly outpaced inflation but the price rises of previous years are still hurting some.
While prices for things like food and transportation take up a larger percentage of lower-income workers' budgets, they're unlikely to come back down.
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September's real wages are expected to rise

by Mitchell Hartman
Oct 9, 2023
And that would mean your paycheck's purchasing power would be getting a boost relative to inflation.
Rising real wages means consumers are "making up for the consumption power that they lost when prices were rising faster than wages," says Erica Groshen, former Bureau of Labor Statistics commissioner.
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Wage growth may be slowing, but consumers still have the power to spend

by Justin Ho
Jul 28, 2023
Wages are rising faster than prices. So on average, people’s purchasing power is increasing.
Purchasing power has increased because prices have been rising more slowly, said economist Preston Mui.
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Wages rise ... but prices rise more

by Mitchell Hartman
Mar 31, 2022
If wages were to rise as fast as prices right now, it could lead to a wage-price spiral, something the Fed is trying to prevent.
Wage increases aren't keeping up with inflation, but experts say it will even out soon.
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